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Cameroon endorsed XAF34.2 bln debt for public companies by the end of September 2020

Cameroon endorsed XAF34.2 bln debt for public companies by the end of September 2020
  • Comments   -   Thursday, 12 November 2020 16:34

(Business in Cameroon) - At the end of September 2020, the government of Cameroon endorsed the debt of four companies, according to the national sinking fund CAA.

The said companies are Camtel (public telecom operator), the Port Authority of Douala (PAD), Kribi Power Development Corporation (KPDC), and Dibamba Power Development Corporation (DPDC). The last two companies controlled by Globeleq operate the Kribi power plant (216 MW expandable to 330 MW) in the South and the Dibamba oil power plant (86 MW) in the Littoral.

The CAA indicates that the government endorsed a XAF8.7 billion loan with the French Development Agency (AFD) for the PAD. The DPDC, for its part, has a debt of XAF500 million with the ADB, XAF6.6 billion with the Dutch Development Finance Corporation (FMO), and XAF2.5 billion with the International Finance Corporation (IFC).

Finally, the KPDC contracted a debt of XAF10.1 billion from the AfDB, XAF2.7 billion from the Development Bank of Central African States (BDEAC), and XAF3 billion from the European Investment Bank (EIB).

Pending the availability of Camtel’s data (which are being compiled according to the CAA), the amount of debt endorsed by the government at the end of September 2020 is XAF34.2 billion, or 0.2% of GDP.

S.A.

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